Is This Why Stocks Are Suddenly Surging: NY Fed Cancels Today’s POMO Due To “Technical Difficulties”

by Tyler Durden
ZeroHedge.com
02/24/2016

Just at the market began its torrid ramp higher today at 11:15 am on the dot, something else was expected to happen: the Fed’s open market buying, or POMO, of Agency MBS (yes, those still continue despite the end of QE because the Fed has to keep the level of its balance sheet flat and offset maturities).

Only today this did not happen. Instead, this is what the NY Fed said:

Wed, February, 24, 2016

Due to technical difficulties, the Wed, February, 24, 2016 (11:15 – 11:45am) agency MBS outright operation was cancelled. The operation will be rescheduled for a later time. Please continue to check this website for updates.

The Rest…HERE

This entry was posted on Wednesday, February 24th, 2016 at 1:37 pm and is filed under Conspiracy, Corruption, Economics, Government Evil. You can follow any responses to this entry through the RSS 2.0 feed.